In a delightful turn of events that could only be penned by the hand of fate, esteemed crypto barrister and intrepid U.S. Senate aspirant, John Deaton, has taken it upon himself to deliver a most vigorous thumbs-down to any fanciful notions of a pardon for the erstwhile FTX chieftain, Sam Bankman-Fried. This rejection comes at a time when SBF is basking in the glow of his own optimistic projections, which boldly claim that a staggering $78 billion net asset value is but a mere trifle away by 2025.
But fear not, dear reader, for Mr. Deaton, with all the fervor of a knight defending his castle, contends that the legal judgment and the lamentable losses endured by creditors far outweigh the mere whims of speculative recovery. One cannot help but admire the audacity!
Deaton Declares No to SBF’s $78B Solvency Fantasies and Pardon Whimsy
Deaton’s remarks arrive on the heels of Bankman-Fried’s valiant attempts at a digital renaissance. In a recent missive titled “10 Myths About Me & FTX” posted on X, our protagonist, SBF, vehemently contested the insolvency allegations and exhibited a rather ambitious chart attempting to model FTX’s net asset value as though it were a fine vintage wine improving with age.
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The accompanying graphic suggested an alternate reality wherein, had bankruptcy not been declared back in November of 2022, the net asset value might have soared to a breathtaking $78 billion come February 2025, juxtaposed against a humble petition-date NAV of merely $16.5 billion. The figures, it appears, are buoyed by the fanciful valuations of their holdings, including such illustrious tokens as SRM and FTT.
Mr. Deaton, a prominent figure in the XRP community, known for his tenacity during the SEC v. Ripple saga, remains unimpressed by this statistical sleight of hand. For him, the former billionaire is nothing short of a “crook, thief, and liar,” with his erstwhile enterprises resembling a family-run operation designed to siphon retail savings into political coffers and global marketing escapades. Quite the family business model, isn’t it?
Beyond the rather amusing moniker of “Sam Bankman Fraud,” Deaton’s critique extends to the rather curious phenomenon of a “two-tiered justice system.” One can’t help but wonder why SBF’s progenitors, both esteemed Stanford professors, have thus far evaded the clutches of criminal accountability for their alleged participation in the FTX affair. A mystery worthy of Sherlock Holmes!
While SBF’s entourage continues to share their optimistic graphs, legal sages remain decidedly skeptical, pointing out that “modeled assets” often hinge upon illiquid tokens that seem to exist solely in the realms of fantasy. How very charming!
As we gear up for the 2026 political spectacle, Deaton’s unequivocal stance may well indicate that the crypto sector’s so-called “pro-law” brigade is primed to battle any narrative that dares to downplay the serious nature of the FTX debacle. After all, when it comes to matters of finance and fraud, one must always keep a vigilant eye on the horizon!
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2026-02-22 20:17